$20,000 invested at 8% for 5 years
Future value
$29,387
Interest earned
$9,387
Total growth
46.9328%
Investing $20,000 at 8% compounded annually for 5 years grows to $29,387. That's $9,387 of compound interest earned on your original $20,000.
FV = $20,000 × (1 + 8%)^5
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